Legal Framework
From The Report: Myanmar 2020
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This chapter examines the legal system of Myanmar, focusing on changes arising from the Myanmar Company Law and efforts to open up to foreign investment. Crucially, the banking sector has reduced restrictions on foreign participation and introduced the Mobile Financial Services Regulations in an effort to increase banking penetration. The chapter also outlines the measures introduced to enhance transparency and improve consumer protection, and details the terms of the Anti-Money Laundering Order introduced in November 2019, as well as anti-terrorism and trade liberalisation measures. Key points in this chapter refer to the opening of the insurance sector and the Yangon Stock Exchange to foreign participation. This chapter contains a viewpoint from Cheah Swee Gim, Director, Kelvin Chia Yangon.

Articles from this Chapter

Overview

Opening up: The government pushes for a more liberalised legal framework to improve the business climate for foreign investors
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The year 2019 marked the continuation of several policy shifts brought about by the 2017 Myanmar Companies Law (MCL). The authorities have begun to issue new policies in order to allow foreigners to invest in sectors that were otherwise reserved for Myanmar citizens, such as banking and trading in listed companies. Among the most notable changes of the MCL was the updated definition of a “foreign company” to denote an overseas corporation, foreign person or a combination of the two that…

Analysis

Protective framework: New intellectual property laws signal a move towards increased content protections
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With the Industrial Design and Trademark Laws enacted in January, the Patent Law enacted in March and the Copyright Law in May, the year 2019 marked the start of a significant move towards stronger intellectual property (IP) protections in Myanmar. The country previously relied on colonial-era legislation, but the implementation of these regulations will bring Myanmar in line with international norms, such as those stipulated by the World Trade Organisation (WTO). Industrial Design Considering…

Viewpoint

Strong headway: Cheah Swee Gim, Director, Kelvin Chia Yangon, on promising new reforms and bolstering international investment
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Viewpoint:Cheah Swee Gim The National League for Democracy (NLD) first entered Myanmar’s political and economic mainstream in 2015. They will, once more, contest a position in the 2020 elections. The primary focus of the government during this period has been the resolution of social issues throughout the country, notably in the border regions. With the NLD’s term approaching its end, the government is increasingly concentrating on strengthening the mechanisms for promoting investment…